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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this comes as the first jobs report since the election exceeded expectations. the u.s. economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives ha
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this...
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better off than republicans if we go over the fiscal cliff. they have leverage from the campaign. that's the directionion -- speaker boehner today kept the door open to raising rates on the wealthy as part of a negotiating plan. >> at the white house, what are you hearing as to how much flexibility the president thinks he has? >> it's interesting. i had an interesting conversation yesterday with senator sheldon, white house democrat from rhode island, on the senate budget committee, he said look if we go through january 1st without a deal, it's not the end of the world. it will be the end of the world if they never get resolved. if they don't get resolved until mid january or february we'll be okay. from the white house and democrats we want a deal but not afraid to go past this deadline without a deal as susan said, they know they have the upper hand and waiting for republicans to bend. >> you've been looking at this from the per spective the wise men who used to be in leadership and take a look at what happened you wrote about mitch mcconnel
better off than republicans if we go over the fiscal cliff. they have leverage from the campaign. that's the directionion -- speaker boehner today kept the door open to raising rates on the wealthy as part of a negotiating plan. >> at the white house, what are you hearing as to how much flexibility the president thinks he has? >> it's interesting. i had an interesting conversation yesterday with senator sheldon, white house democrat from rhode island, on the senate budget committee,...
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. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former chief of staff. since then, there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the cliff. instead of cutting spending, the president want to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has a spending problem, not a revenue problem. and if the president doesn't agree with our proposal, i believe he has an obligation to families and small businesses, t
. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former chief of staff. since...
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cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> mr. speaker, you did speak with the president earlier this week. can you characterize that call? did he have any kind of counteroffer? also, we understand that he just is making clear that it is -- got to be increase in rates for the wealthy or no deal. are you willing to give a little bit, maybe just not all the way to 39.6? >> it was the -- the phone call was pleasant. but it was just more of the same. the conver
cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week -- another week. >> reporter: there are reports this morning that fiscal cliff negotiations are really between president obama and speaker boehner right now. the speaker said he spoke on the phone with the president yesterday and it was a pleasant conversation. but more of the same. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 8:15. bay area sheriffs may be changing how they deal with suspected illegal immigrants. state attorney general kamala harris recently told the sheriffs they don't have to hold illegal immigrants want to deport them. she said those with serious criminal record -- records should be detained and deported and local departments have to decide how to handle others. >>> police made several arrests at the building where hundreds chose to report >>> the so of netflix may be in trouble for something he put on facebook. back in july, he wrote on his page that netflix employees are enjoying a billion hours of movies a
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week -- another week. >> reporter: there are reports this morning that fiscal cliff negotiations are really between president obama and speaker boehner right now. the speaker said he spoke on the phone with the president yesterday and it was a pleasant conversation. but more of the same. reporting live from washington, d.c., alison burns, ktvu channel 2 news....
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. >>> back here in washington there is little movement toward a compromise to avoid the fiscal cliff. there are just 25 days until the deadline. officials are saying the negotiations are now in the had hands of two men, president obama and house speaker eer jo boehner. bill plante is at the white house. good morning. >> reporter: good morning. and good morning in the west. the president has stepped up his rhetoric, warning failure to fix the fiscal crisis could sour the christmas season. as another day passed without any real progress, president obama ventured out to push his claim that the middle class will suffer. ♪ you better watch out you better not cry ♪ >> at the national christmas tree lighting, president obama joined the holiday mood. but earlier, visiting a middle class virginia family, he threatened that congress could ruin the christmas season. if it doesn't act, the administration says, middle class tax bills will increase by $2,000. >> we're in the midst of the christmas season. i think the american people are counting on this getting solved. the closer it gets to the
. >>> back here in washington there is little movement toward a compromise to avoid the fiscal cliff. there are just 25 days until the deadline. officials are saying the negotiations are now in the had hands of two men, president obama and house speaker eer jo boehner. bill plante is at the white house. good morning. >> reporter: good morning. and good morning in the west. the president has stepped up his rhetoric, warning failure to fix the fiscal crisis could sour the christmas...
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and we look at the continuing fiscal cliff discussions of course. after several days of public proceed announcements and posturing, budget talks have privately resumed before john boehner and the white house. the "wall street journal" says this breaks a new week long silence as that deadline looms. president obama and boehner spoke by phone on wednesday. they promised to renew the negotiations. several top executives have also weighed in on thursday. >> there's been some movement. everybody realizes there has to be a revenue component, spend component, entitlement reform component. >> patrick, where does it hang on now for you? clearly the president last decided there has to be tax rises for the wealthy. if the democratic side can come up with entitlement cuts, maybe we get a deal. >> i think this is pure political theater. this is a situation that was created 18 months ago in order for the politicians to get by the election. now they've done so. we still confront the same fiscal unsustainability here in the united states that's been evident to ever
and we look at the continuing fiscal cliff discussions of course. after several days of public proceed announcements and posturing, budget talks have privately resumed before john boehner and the white house. the "wall street journal" says this breaks a new week long silence as that deadline looms. president obama and boehner spoke by phone on wednesday. they promised to renew the negotiations. several top executives have also weighed in on thursday. >> there's been some...
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middle class family that will feel the impact of the fiscal cliff. as danielle nottingham reports for wjz from washington, outside, groups are turning up the pressure for congress and the president to reach a deal. >> representative maloney. >> reporter: lawmakers are gettingang earful about why they need to avoid the so- called fiscal cliff. >> you gotta nail this down. uncertainty is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars means a couple months rent. for this family. >> reporter: the white house has made clear, the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks to raise money.
middle class family that will feel the impact of the fiscal cliff. as danielle nottingham reports for wjz from washington, outside, groups are turning up the pressure for congress and the president to reach a deal. >> representative maloney. >> reporter: lawmakers are gettingang earful about why they need to avoid the so- called fiscal cliff. >> you gotta nail this down. uncertainty is killing us. >> reporter: top economists came to capitol hill thursday to talk about...
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fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will be avoided. dan lothian, thank you. not everyone seems to think it would be such a bad idea to actually go over the fiscal cliff. just one day after the treasury secretary said the white house is absolutely prepared to do just that under certain circumstances a leading economist is echoing those sentiments. >> i would not come up with a deal unless it's a really good deal before the end of the year. i would take it into next year if that means you're going to get a better deal. >> let's bring in our senior congressional correspondent dana b
fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will...
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. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for recreational use in two states, authorities are trying to figure out what the legal limit should be for getting behind the wheel after you toke up. this is why. video of a crash that look the lives of four teenagers. prosecutors say the 17-year-old driver was high on marijuana when he got behind the wheel. it happened on long island in october. the driver took a curb at 110 miles an hour. crossed three lanes of traffic and skidded into trees, one of whicher to the car in half. he survived but his friend did not. the new marijuana law weren't into effect in the state. people can smoke for recrea
. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for...
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house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, gd morning. >> reporter: good morning, charlie and norah. the president will cross over the potomac into northern virginia to meet with a family who says their taxes don't go up, they'll be happier and spend more money. that's the pr side of this. much more important, the context of the deal, keet players yesterday picked up the phone. phone call relatively brief and substantive. details remain elusive. it was shorter, sources say, to last week's 28-minute conversation described them as curt, direct and frank. no one familiar with this call used such barbed words. it also occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> reporter: that danger not enough to keep congress
house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, gd morning. >> reporter: good morning, charlie and norah. the president will cross over the potomac into northern virginia to meet with a family who says their taxes don't go up, they'll be happier and spend more money. that's the pr side of this. much more important, the context of the deal, keet players yesterday picked up the phone. phone call relatively brief and substantive....
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. >> still no face-to-face talks on that "fiscal cliff." >> there will be no deal without a compromise on taxes. >> state lawmakers fixing their cars on your dime. >> as a taxpayer, you know, it's my money going to it so it's certainly frustrating. >> oakland police fend off the feds. >> most importantly, what they avoid is a complete federal takeover something that would be an embarrassment for the city. >> i have documentation that proves the intense corruption at all levels of the belizian government. >> busted and heading back to belize. silicon valley tycoon john mcafee is now under arrest. >> the dungeness crab season just got started and already, the boats are idle. >> from across the bay -- >> it's just imagine cal for me. >> -- to around the world, the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's thursday, december 6. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:30 on this thursday. >>> a broken hydrant left a wet m
. >> still no face-to-face talks on that "fiscal cliff." >> there will be no deal without a compromise on taxes. >> state lawmakers fixing their cars on your dime. >> as a taxpayer, you know, it's my money going to it so it's certainly frustrating. >> oakland police fend off the feds. >> most importantly, what they avoid is a complete federal takeover something that would be an embarrassment for the city. >> i have documentation that proves...
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house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal, the two key players yesterday picked up the phone. the phone call relatively brief and substantive, though details remain illusive. shorter, sources say. the last week 28-minute conversation described then as curt, direct and frank. no one with this call used such barbed words and occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> if the administration, are they prepared to go over the fiscal cliff? >> absolutely. no prospect or agreement that doesn't involve those rates going on on the top 2%. remember, only 2%. >> report
house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal,...
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this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central issue in the campaign. >> don't you think the republicans -- >> i think everybody gets it. the president is not signing legislation, no way, that does not raise tax rates. i think the president has been as clear as day that he will not do it without raising the level of tax. >> marginal? >> including marginal tax rates. he said the 35% rate has to move up, that base broadening alone is insufficient. >> maybe not 39.6. >> he has been as clear as day on that point. the president's position as i understand it has been that we have to raise rates but he is certainly prepared to combine rate raising with base broad
this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central...
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he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb. we're up at a 52 week high for the xetra dax. cac 40 up half a percent and ibex up half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-d
he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb....
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in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bronchitis and emphysema. it should not be taken more tha
in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years...
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fiscal cliff negotiations. the white house started a hash tag, my 2 k which refers to the $2,000 the average middle class american will pay in taxes if a deal is not reached. >>> that's how he gets it done, like the rest of us, huh? >> doing it himself. >>> a health scare for a former child star. a stroke that landed frankie muneasy in the hospital. >>> did you know there's a black friday at your doctor's office? why the date of your appointment matters so much. >>> and new this afternoon, a big break in the case of a man pushed to his death on theew york subway. plus, the backlash against the photographer who captured the victim's final moments. >>> a young star in hollywood is recovering today from a stroke. frankie muneasy suffered what he called a mini stroke. the malcolm in the middle star said, he was in the hospital last week, that he needs to start better care of his body and that the whole thing made him feel old. he turns 27 today. >>> at the end of the year, most health care providers are trying to c
fiscal cliff negotiations. the white house started a hash tag, my 2 k which refers to the $2,000 the average middle class american will pay in taxes if a deal is not reached. >>> that's how he gets it done, like the rest of us, huh? >> doing it himself. >>> a health scare for a former child star. a stroke that landed frankie muneasy in the hospital. >>> did you know there's a black friday at your doctor's office? why the date of your appointment matters so much....
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fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. in the meantime, the united nations is hint thag there wil hinting that there will be no asylum for bashar al-assad as the syrian dictator makes it clear that he will die before leaving the country under any circumstances. what is going on behind the scenes, for that we turn to corn powell following all the latest developments from our mideast bureau in jerusalem. connor. >> reporter: the international and internal pressure is mounting on bashar al-assad today.
fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary...
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yesterday at the white house there were vague references to conversations about the the fiscal cliff with congress iion republicans. i can confirm this morning through my sources here at the white house and on capitol hill that there were no substantive conversations or negotiations yesterday at all. no formal e-mails, to conversations, nothing. house speaker boehner's countdown led to the lighting of the capitol hill christmas tree last night. >> three, two, one. >> reporter: but washington is counting down this month to the dark unknown of the fiscal cliff. >> thanks for having me. >> reporter: on his first view sbr interview on the fiscal cliff, he rejected john boehner's proposal. >> unfortunately the speaker's proposal is out of balance. >> reporter: raising taxes on households earning more than $250,000. >> we'll have to see the rates on the top 2% go up. we're not going to be able to get a deal without it. >> reporter: republicans want smaller tax increases overall and no movement on higher income tax rates. they want to cut unnamed tax bre breaks and deductions, which they sa
yesterday at the white house there were vague references to conversations about the the fiscal cliff with congress iion republicans. i can confirm this morning through my sources here at the white house and on capitol hill that there were no substantive conversations or negotiations yesterday at all. no formal e-mails, to conversations, nothing. house speaker boehner's countdown led to the lighting of the capitol hill christmas tree last night. >> three, two, one. >> reporter: but...
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. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business roundtable. and he'll try to enlist their help in his negotiations with congressional republicans. and his latest demand, that congress remove its own power as it stands right now, to raise the debt ceiling. it is a bold gambit that congressional republicans are already calling a non-starter. paul ryan stepped back into the spotlight late tuesday, with a feisty shot at the president. >> i congratulate him on his victory. but on january 20th, he'll face a stagnant economy and a fiscal mess. you might even say he'll inherit these problems. >> reporter:
. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business...
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last week's proposals in the white house amount to little more than a massive set of tax increases. by the way, far in excess of the tax hikes that he ran on or anything that senate democrats would support coupled with new spending. even democrats don't support what he called for. and his response to speaker banspeakerboehner's balanced plt year welcome back to raising taxes again. it hato cap to off, they have tn in a fresh demand that would limit any -- would eliminate, rather, any limit on the federal debt. the proposal outline bid treasury secretary geithner last week shows that if given a chance, democrats will never use new taxes to reduce the deficit. they will instead use it to pay for larger government, more public workers, and more government waste. we need to have a serious conversation about our federal debt, which is now over $16.3 trillion and going up every day. how do we get that number under control? the president and his democratic friends have suggested for years that they can do it on the revenue side; specifically, by taxing the wealthy. yet the new taxes on the
last week's proposals in the white house amount to little more than a massive set of tax increases. by the way, far in excess of the tax hikes that he ran on or anything that senate democrats would support coupled with new spending. even democrats don't support what he called for. and his response to speaker banspeakerboehner's balanced plt year welcome back to raising taxes again. it hato cap to off, they have tn in a fresh demand that would limit any -- would eliminate, rather, any limit on...
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with the white house and congress on the fiscal cliff. hear the new proposal from congressman paul ryan and senator mark rubio. >> steve: will he work with the liberal media. president obama extends extra special invites for sit down with liberal gabbers. >> brian: he is one of america's favorite coach. his career almost ended early and fans had no idea. the coach revealed something for the very first time. by the way. "fox and friends" starts now. ♪ ♪ "fox and friends". >> steve: you must be conflicted today. >> brian: in what way? >> steve: we have coach k on and any time we have peitro, the super model who has been a friend of your manies, many years. >> brian: i am looking forward to nick rangon. >> gretchen: you will have to duke me out for it then. >> brian: you start with him in 10 minutes. >> gretchen: you want to trade coach for nick it will coach you. >> brian: and edrolins to be named later. >> gretchen: and i always like rolins. >> brian: pet up with us. she was a young super model. >> gretchen: does she know she was off y
with the white house and congress on the fiscal cliff. hear the new proposal from congressman paul ryan and senator mark rubio. >> steve: will he work with the liberal media. president obama extends extra special invites for sit down with liberal gabbers. >> brian: he is one of america's favorite coach. his career almost ended early and fans had no idea. the coach revealed something for the very first time. by the way. "fox and friends" starts now. ♪ ♪ "fox and...
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has made a counteroffer to the white house on the fiscal cliff and the endless conversation continues today with president obama giving his first post-election one on one interview here's a snippet i think reassured the man when will the two of you sit down in or around the you know i don't think that the issue right now that's to do with sitting in a room. there was plenty of that throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of america and the dollars position in the international monetary system then they do to address the nation's growing debt real discuss uncle sam exorbitant privilege despite the budget woes and assess the competitive currency landscape plus the dollar fell against other currencies to a six week low this morning according to reuters which cited concerns over a fiscal cliff deal but what does the so-called dollar index really gauge when it comes to the greenbacks true value will break it down and word of the day and paying people to track the comings and goings of private corporate jets and the big wi
has made a counteroffer to the white house on the fiscal cliff and the endless conversation continues today with president obama giving his first post-election one on one interview here's a snippet i think reassured the man when will the two of you sit down in or around the you know i don't think that the issue right now that's to do with sitting in a room. there was plenty of that throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of...
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because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarthy said yesterday the speaker moved to the middle by putting revenue on the table. jay carney also said the boehner plan is quote pagic beans and fair redust. >>> peter doocy, live in washington. thank you. >>> chaos in cairo. egyptian president mohammed morsi returning to the presidential palace overnight. he left amid clashes between police and 100,000 protestors. look at that. they ar
because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they...
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fiscal cliff. but right now they're miles apart and digging in their heels. president obama told bloomberg tv a deal is possible, but -- >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't t
fiscal cliff. but right now they're miles apart and digging in their heels. president obama told bloomberg tv a deal is possible, but -- >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers....
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. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my panc
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit...
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. >> was the white house and congressional republicans put forward a plan to avoid the fiscal cliff, now, they're miles apart, gaining in their heels. the president told bloomberg tv a deal is possible, but... >> this proposal now is still out of balance. >> the plan sent yesterday offers a total of 2 tth $2 trillion in deficit reduction including $1.2 trillion in spending cuts. and00 billion in new tax revenue no. rate increases in top two percent of taxpayers. that is nonnegotiatable for the president. >> we're not going to be able to get a deal without it white house says the math doesn't add up. >> it's magic beebs and fairy dust. >> with just 28 days until deadline, negotiations reach aid stalemate. >> there is nothing going on privately that is not going on publicly. >> there are no plans at this time for leaders to meet with the president at the while the house. it doesn't sound like he's sending out invitations any type soon. >> i don't think that the yish now has to do with sitting in a room. >> today, the president did meet with the bipartisan group of governors. >> we unde
. >> was the white house and congressional republicans put forward a plan to avoid the fiscal cliff, now, they're miles apart, gaining in their heels. the president told bloomberg tv a deal is possible, but... >> this proposal now is still out of balance. >> the plan sent yesterday offers a total of 2 tth $2 trillion in deficit reduction including $1.2 trillion in spending cuts. and00 billion in new tax revenue no. rate increases in top two percent of taxpayers. that is...
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fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's room for discussion, but that -- >> so the 39.6%, that's not a red line? >> as far as i know and the conversations i've had, the president has said there's room for compromise, but for the red line to be drawn in the sand by republicans to say that an increase in rates on the wealthiest a
fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way...
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how to avoid the "fiscal cliff" this morning at the white house. >> we're not sort of saying it should be that plan or that plan. i think what we all agree on is something has to get done. >> as governors we think it's important that we're part of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state government cost lose much-needed federal aid if democrats and republicans don't reach a deal to stop automatic spending cuts before the end of the year. the other issue is taxes. congressional republicans want bush-era tax cuts extended for all americans. president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending and until you
how to avoid the "fiscal cliff" this morning at the white house. >> we're not sort of saying it should be that plan or that plan. i think what we all agree on is something has to get done. >> as governors we think it's important that we're part of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state government cost lose much-needed federal aid if democrats and republicans don't reach a deal to stop automatic...
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proposal to avert the fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her savings. >> it is earning dreadfully low interest for numerous years. and is there anywhere that i can put my money that it's going to do any better? >> and that's going to be like that for a while with the fed doing its thing, right? >> absolutely. i don't think this is a bad thing. if this is your cash emergency savings that you cannot risk, basically what you're paying is very small opportunity cost. like insurance. so let's say you're earning 1% on your savings, right, inflation is eating away at it a little bit. it is certainly a lot lower
proposal to avert the fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her...
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house to discuss how badly this fiscal cliff could affect them out there in those states who rely heavily on the feds and how automatic deficit reduction measures will hurt state budgets. federal aid is big, big, big to the states. federal grants make up a third of state revenue. at the table, utah's governor gary herbert, government falli number, governor walker, minnesota's governor mark dayton, and arkansas's mike beebe. what they said when they emerged from the meeting. >> we have ideas how we can save money, how we can be able to create more efficiencies and government and spending with some of the different demonstrations that we've done in our various states we plan on getting back to the president, vice president with our suggestions and ideas. >> none of us want to see taxes on middle class folks go up. and we think it would have a significantly negative impact on the economy but we're not backing one particular plan or the other. >> let's take you overseas to syria where rebels have been gaining ground against government forces. rebels trapped 450 soldiers in side a sprawling mi
house to discuss how badly this fiscal cliff could affect them out there in those states who rely heavily on the feds and how automatic deficit reduction measures will hurt state budgets. federal aid is big, big, big to the states. federal grants make up a third of state revenue. at the table, utah's governor gary herbert, government falli number, governor walker, minnesota's governor mark dayton, and arkansas's mike beebe. what they said when they emerged from the meeting. >> we have...
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the fiscal cliff counter offer is eliciting a get-real from the white house. we will ask tax master grover norquist about the prospect of a republican solution that actually involves tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. gas-x is designed to relieve gas. when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid
the fiscal cliff counter offer is eliciting a get-real from the white house. we will ask tax master grover norquist about the prospect of a republican solution that actually involves tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when...
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. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. >> the white house rejects a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >> according to state tv iran's revolutionary guard captured a u.s. drone after it entered the iriranian air space over the persian gulf. >> but u.s. navy official says there are no missing drones. >> prince william and his wife katherine, expecting their first child. >> after the duchess was admitted to hospital. >> that child could grow up to be one of the most powerful unemployed people in the world. >> a search is under way in new york for a man accused of pushing another man to his death in the subway. >>> rg3, he made opportunities. >> 17-16 washington redskins. >> all that -- >> why don't you shut up? >> you are an embarrassment. >>
. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. >> the white house rejects a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >>...
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. >>> let's go to washington, now, for the latest on the fiscal cliff. just 28 days until everyone's taxes are set to go up. house republicans have now sent the white house their own plan for getting america's finances under control. but both sides still far apart. abc's jake tapper is covering this from the white house. jake, the white house downplayed this new offer but will it be enough to jump-start negotiations? >> reporter: i don't think so, george. the white house advisers describe the proposal that republicans offered yesterday, as a step backward in terms of negotiations. what the outlying house republican states is $2.2 trillion in deficit reduction. that includes 1.2 trillion in spending cuts. $800 billion in new revenue. optimistic projections. and $200 billion in other measures, such as adjusting the consumer price index. but house republicans say if the president doesn't like this, it's incumbent upon him to offer a plan that can make it through the house and the senate. >> the white house says they want to see the republicans first say tha
. >>> let's go to washington, now, for the latest on the fiscal cliff. just 28 days until everyone's taxes are set to go up. house republicans have now sent the white house their own plan for getting america's finances under control. but both sides still far apart. abc's jake tapper is covering this from the white house. jake, the white house downplayed this new offer but will it be enough to jump-start negotiations? >> reporter: i don't think so, george. the white house advisers...
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republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to do it early. stay right there. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. that's why ally has ia raise your rate cd.n. ally bank. your money needs an ally. stuart: california high taxes, strict green laws, a liberal supermajority in the statehouse, not exactly business friendly. that's why so many businesses are leaving. they are going to places like phoenix. so we're going to talk to the mayor of phoenix. greg stanton, what is he offering to the california refugees to get them t
republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to...
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january 1st, fiscal cliff getting closer. boehner the president a letter you lining the republicans' plan it took two hours for the white house to reject it, saying it benefits wealth any and sticks middle class with the bill. republicans want cuts to -- [ unintelligible ] we have quiet start here on wall street, positive, dow and s&p, nasdaq lower investors continuing to track what is going on in washington. bloomberg index this morning a little lower. another positive report on home prices up 6.3% in october biggest jump since june of 2006. pending forecast indicates november index up more than 7% in california better, up more than 9% in october. live at the new york stock exchange, i'm jane king. >> you passed on grease how about a little singing in the rain? >> [ unintelligible ] >> if mike wants to sing, go ahead. >> sing and dance. >> soft shoe over there. >> i have an umbrella for you. you -- good morning. 6:48, looking from mount tamalpais this morning back down on what is mainly cloudy to the south, turning to the no
january 1st, fiscal cliff getting closer. boehner the president a letter you lining the republicans' plan it took two hours for the white house to reject it, saying it benefits wealth any and sticks middle class with the bill. republicans want cuts to -- [ unintelligible ] we have quiet start here on wall street, positive, dow and s&p, nasdaq lower investors continuing to track what is going on in washington. bloomberg index this morning a little lower. another positive report on home...
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the so called fiscal cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter:
the so called fiscal cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial...
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cliff. republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the president avoided questions about the gop plan. >> no deal better than a bad deal, sir? >> reporter: a senior white house official called the proposal a step backwards. saying if republicans do not agree to some higher tax rates for the wealthy, the nation will go over the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leavin
cliff. republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the...
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house, we will go over the fiscal cliff. this is a compromise on taxes. >> now as soon as speaker boehner's counter offer came out, the white house communications director responded, saying this is nothing new, saying it lacks specifics. i will tell you sort of behind the scenes there was a democratic leadership aid that told cnn that actually, soledad -- this may surprise you -- that the offer passed the laugh test. it does have some of the things that were in the grand bargain, that failed grand bargain worked out between -- where president obama and speaker boehner tried to work out last year. and also -- while certainly both sides are saying that specifics are lacking, there is certainly, i think, a feeling from some democrats that maybe it could have been worse. maybe they were expecting something that in their estimation might have been even more towards what republicans would want. >> brianna keilar, thank you. i guess we're supposed to be encouraged that everybody wasn't just giggling over the proposals. rks said the
house, we will go over the fiscal cliff. this is a compromise on taxes. >> now as soon as speaker boehner's counter offer came out, the white house communications director responded, saying this is nothing new, saying it lacks specifics. i will tell you sort of behind the scenes there was a democratic leadership aid that told cnn that actually, soledad -- this may surprise you -- that the offer passed the laugh test. it does have some of the things that were in the grand bargain, that...
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shoots down the republican's offer to avoid the fiscal cliff. is he really looking to compromise or is it the president's favorite deal no deal at all? laura ingraham weighs in live from washington in moments. >> brian: the dare program teaches kids about the dangers of drugs, won't talk about pot anymore. the reason? kids will smoke it anyway. they're giving up. really? really? "fox & friends" starts now. >> steve: that is something that they're scratching pot off the list. >> brian: it's legal now in some states and people are making believe they have illnesses so they can smoke it and buy it with prescriptions. >> gretchen: you don't have to make anything up. you can say you have a headache. >> brian: in colorado? can you write a -- you can't, but could dr. siegle? >> steve: for medical marijuana. >> brian: in new york? >> steve: i bet he could if if were legal here. >> gretchen: he was going to sew up your coat and so much more earlier today. >> brian: i don't need a surgeon necessarily. >> gretchen: let's get to your headlines. fox news ale
shoots down the republican's offer to avoid the fiscal cliff. is he really looking to compromise or is it the president's favorite deal no deal at all? laura ingraham weighs in live from washington in moments. >> brian: the dare program teaches kids about the dangers of drugs, won't talk about pot anymore. the reason? kids will smoke it anyway. they're giving up. really? really? "fox & friends" starts now. >> steve: that is something that they're scratching pot off the...
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rejecting the republicans' fiscal cliff counter offer on tax reforms and spending cuts. the gop plan consists of $2.2 trillion in saving officials a decade including raging the age for medicare from 65 to 67 and lowering the cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue but without raising taxes on the wealthy. frn in a letter to the president, republicans attempted to sell the offer as the erskine bowles plan, comparing it to the same offer he drew up last year. >> i think he'd disagree. >> the co-chair of obama's deficit commission, but yesterday mr. bowles flatly rejected that connection. meanwhile, the white house is turning to campaign style messaging as a reminder of whose tax plan was chosen in the court of public opinion on election day. >> under my plan, first of all, 98% of folks who make less than 250,000, you wouldn't see your income taxes go up a single dime. all right? because you're the ones who need relief. but we're not going to be able to get it done unless we al
rejecting the republicans' fiscal cliff counter offer on tax reforms and spending cuts. the gop plan consists of $2.2 trillion in saving officials a decade including raging the age for medicare from 65 to 67 and lowering the cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue but without raising taxes on the wealthy. frn in a letter to the president, republicans attempted to sell the offer as the erskine...
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house republicans unveiling a bold proposal to avoid a so-called fiscal cliff. the white house didn't waste any time attacking it. kelly wright is live in washington with more on this. good morning, kelly. >> good morning to you. the back and forth is continuing in a letter with president obama. american people expect leaders to find fair middle ground with the nation's most pressing challenges. with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders have been adamant they don't believe rates ought to go up on the top 2 percent of wealthiest americans. the american people overwhelmingly disagree. the rates have to rise and republicans
house republicans unveiling a bold proposal to avoid a so-called fiscal cliff. the white house didn't waste any time attacking it. kelly wright is live in washington with more on this. good morning, kelly. >> good morning to you. the back and forth is continuing in a letter with president obama. american people expect leaders to find fair middle ground with the nation's most pressing challenges. with that they propose is a counter over for the fiscal cliff. the republican plan has will00...
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six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for million
six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy....
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. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. this is a compromise on taxes. >> so the white house now, christine, is insisting that they won't talk specifics on entitlement reform, which is what republicans want until they budge on those income tax rates, budging on increasing them for wealthy americans. as you know, republicans at this point dug in saying they're not going to do that. the white house feels they have the upper hand here because so many americans, we talked about 7 in 10 think those income tax rates should go up. >> this is a proposal, there are some differences, bowles would not have raged the eligibility age for social security. what does he think of this plan? >> he also thinks another big thing is missing, that's increasing those tack rates for wealthy americans. here's what he said. >> i am positive to get a deal done you will have to have higher tax rates on the top 2%. i'm equally sure the $350 billion worth of cuts that the president put on the table for health care entitlements is not going to be suffic
. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. this is a compromise on taxes. >> so the white house now, christine, is insisting that they won't talk specifics on entitlement reform, which is what republicans want until they budge on those income tax rates, budging on increasing them for wealthy americans. as you know, republicans at this point dug in saying they're not going to do that. the white house feels they have the...
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would cease paycheck and health benefits for members of congress and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the o
would cease paycheck and health benefits for members of congress and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not...